Escorts Investment Bank Limited (EIBL) has reaped a pre-tax profit of Rs 66 million during the nine months of the current fiscal year against Rs 62 million during the corresponding period of last year.
"The broadening of range of products and diversification of services was mainly responsible for the increase in bank's profits," President and Chief Executive of EIBL Rashid Mansur told APP.
He said that value of total assets of the bank touched the mark of Rs 2. 223 billion by March 31 last as compared to Rs 1.915 billion during the corresponding period of last year. He said that morabaha financing now stood at Rs 421 million while earning per share of EIBL has risen to Rs 3.05.
Mansur said that the bank's newly established Investment Services Center (ISC) at the State Life Insurance Building at David Road, Lahore had now become fully operational and added that the corporate membership of Karachi Stock Exchange (KSE) had been activated.